The primary benefits of the Traditional IRA include the tax-deferred growth of your investments and the possible tax-deductibility of your contributions. Everyone under age 70 ½ at the end of the year, with earned income, is eligible to contribute – there's no income limit.

The Roth IRA provides no deduction for contributions, but instead provides a benefit that isn't available from any other form of retirement savings: if you meet certain requirements, all earnings are tax-free when you or your beneficiaries withdraw them.

Please consult with your tax advisor on which IRA is the best fit for you.

This investment product is specifically designed to pay for the future cost of a child's education. Contributions and earnings are tax-free when withdrawn to pay for qualified education expenses. Ask your Denmark State Bank representative for more information about this useful account.